WINNIPEG – The Canadian dollar fell to its lowest level since late March on Wednesday.
The loonie closed at US$0.7276 or US$1=C$1.3743, compared to US$0.7293 or US$1=C$1.3711 on Tuesday. The United States Dollar Index lost 0.25 of a point at 106.75.
Crude oil prices collapsed on Wednesday with analysts warning of “demand destruction”. However, there was another draw from United States stockpiles and Saudi Arabia reiterated its commitment to cut oil output for the rest of 2023. Brent crude oil lost US$4.70 at US$86.22 per barrel. West Texas Intermediate (WTI) fell US$4.55 to US$84.68/barrel.
The TSX/S&P Composite Index moved up, adding 13.89 points to 19,034.81.
Gold shed US$5.20 at US$1,836.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. up $ 0.28 at $ 2.59
Farmer’s Edge Inc. dn $ 0.005 at $ 0.15
Linamar Corp. dn $ 0.31 at $ 64.34
Maple Leaf Foods up $ 0.53 at $ 25.96
Nutrien Ltd. up $ 1.51 at $ 79.91
Ritchie Bros Auctioneers Inc. up $ 1.10 at $ 85.60
(All figures are in Canadian dollars.)
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